Hong Kong: Nominal average wage rate in March rose by 3.5% year-on-year.

According to the statistics released today (June 26) by the Hong Kong Census and Statistics Department on the total wages and salaries for March 2025, for all selected main industries included in the survey, the average wage rate in March 2025 increased by 3.5% compared to the same period last year. In March 2025, around 62% of companies saw an increase in their average wage rate compared to the previous year, 34% saw a decrease, and the remaining 4% had a similar average wage rate as the previous year. After deducting the factors of consumer price changes calculated using Class A consumer price index, the real average wage rate in March 2025 increased by 1.6% compared to the previous year. In terms of total salary statistics, for all industries included in the survey, the nominal average salary index for the first quarter of 2025 increased by 3.2% compared to the same period last year. After deducting the factors of consumer price changes calculated using the Comprehensive Consumer Price Index, the real average salary for employees in the first quarter of 2025 increased by 1.6% compared to the previous year. The wage rate includes basic wages, other regular allowances, and bonuses. The total salary also includes non-regular payments to employees, such as bonuses and overtime work allowances. Therefore, the quarterly changes in total salary statistics may vary significantly based on actual working hours and the timing of bonus and salary adjustments. Changes in various industries In terms of nominal wage index, in March 2025, all selected main industries recorded year-on-year increases ranging from 3.1% to 4.1%. In terms of real wage index, in March 2025, all selected main industries also recorded year-on-year increases ranging from 1.1% to 2.1%. In terms of nominal average salary index, in the first quarter of 2025, all selected main industries recorded year-on-year increases ranging from 2.0% to 3.9%. In terms of real average salary index, in the first quarter of 2025, all selected main industries also recorded year-on-year increases ranging from 0.4% to 2.3%. A spokesperson for the Hong Kong SAR Government stated that in the first quarter of 2025, wages and labor income for all industries covered in the survey continued to rise year-on-year. The average wage rate for all selected industries increased by 3.5% in nominal terms in March 2025. After adjusting for inflation, the real average wage rate increased by 1.6%. The average salary for employees (including basic wages, non-fixed bonuses, and other non-regular payments) increased by 3.2% in nominal terms in the first quarter of 2025, and by 1.6% in real terms. Looking ahead, the expansion of the Hong Kong economy should support labor demand, as well as wages and labor income, despite uncertainties in the external environment and potential challenges arising from changes in consumer patterns among residents and tourists.